PNC
The PNC Financial Services Group, Inc.
PNC's fundamentals are strong: revenue grew 14% and its operating margin rose 2 points to 38%. At 12x earnings, it's trading right at its usual valuation. Analysts expect earnings growth.
PNC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
PNC's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like PNC.
PNC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9x | $169 | -27% |
| Forward | 11x | $231 | — |
| Fair | 12x | $233 | +1% |
| Current | 12x | $231 | — |
| Expensive | 15x | $273 | +18% |
Historical ranges are pointers, not guarantees.
PNC's PE is in its fair range at 12x. If earnings grow as analysts expect, today's price would be 11x next year's earnings, in its cheap range.
PNC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for PNC, with profitability improving.
PNC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.90 | +11% |
| Q3 2026 | $18.79 | +21% |
| Q2 2026 | $18.17 | +24% |
| Q1 2026 | $17.21 | +22% |
| Q4 2025 | $16.59 | +21% |
| Q3 2025 | $15.47 | +31% |
| Q2 2025 | $14.61 | +22% |
| Q1 2025 | $14.15 | +19% |
| Q4 2024 | $13.74 | +7.4% |
PNC's earnings per share have climbed steadily: $18.79 over the past year, up 21% from the year before, and higher year over year for eight quarters in a row.
PNC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $6.6B | +11% |
| Q2 2026 | $6.9B | +21% |
| Q1 2026 | $6.2B | +13% |
| Q4 2025 | $6.1B | +9.1% |
| Q3 2025 | $5.9B | +8.9% |
| Q2 2025 | $5.7B | +4.6% |
| Q1 2025 | $5.5B | +6% |
| Q4 2024 | $5.6B | +3.8% |
PNC's revenue has grown year over year for 10 quarters in a row: $6.6B last quarter, up 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 40% | +1.3 points |
| Q2 2026 | 38% | +1.9 points |
| Q1 2026 | 35% | +1.6 points |
| Q4 2025 | 38% | +4.1 points |
| Q3 2025 | 39% | +4.4 points |
| Q2 2025 | 36% | +2.1 points |
| Q1 2025 | 34% | +1.7 points |
| Q4 2024 | 34% | +15 points |
PNC's operating margin was 40% last quarter, up 1.3 points from the same quarter a year ago.
PNC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.1B | +15% |
| Q2 2026 | $2.1B | +45% |
| Q1 2026 | $1.9B | +$2.4B |
| Q4 2025 | $757M | -58% |
| Q3 2025 | $2.7B | -19% |
| Q2 2025 | $1.5B | +43% |
| Q1 2025 | -$509M | -129% |
| Q4 2024 | $1.8B | -63% |
PNC's free cash flow was $7.9B over the past year, up 46% from the year before. Free cash flow isn't a meaningful measure for financial services companies like PNC.
PNC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -2M shares |
| 1 year | +1.3% | +5M shares |
| 3 years | +0.2% | +1M shares |
| 5 years | -5.9% | -25M shares |
| Available history | -10% | -47M shares |
PNC has 401M diluted shares, up 1.3% from a year ago, despite $2.4B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $566M |
| Q2 2026 | $622M |
| Q1 2026 | $796M |
| Q4 2025 | $406M |
| Q3 2025 | $334M |
| Q2 2025 | $336M |
| Q1 2025 | $262M |
| Q4 2024 | $221M |
PNC spent $2.4B buying back its own shares over the past year, up 107% from the year before.
PNC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 7.3x | High |
| Q2 2026 | 8.2x | High |
| Q1 2026 | 6.6x | High |
| Q4 2025 | 5.7x | High |
| Q3 2025 | 6.7x | High |
| Q2 2025 | 3.8x | Elevated |
| Q1 2025 | 2.8x | Moderate |
| Q4 2024 | 2.0x | Healthy |
PNC's net debt is about 7.3 years of its operating earnings (EBITDA), up from 6.7 years a year ago. Net leverage isn't a meaningful measure for financial services companies like PNC.
PNC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.5 | Neutral |
| Stochastic | 38.8 | Neutral |
PNC's weekly RSI is 51 (neutral) and its Stochastic is 39 (neutral).
PNC PE vs Financial Services Sector
| Metric | PNC | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 5.5% below |
| PE % | 48 | 63 | 15 pts below |
PNC is trading at 12x earnings, in line with the Financial Services sector's median of 13x.
PNC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $224.0 | 3.1% above |
| 20 week MA | $238.3 | 3% below |
| 50 week MA | $226.6 | 1.9% above |
| 100 week MA | $206.2 | 12% above |
| 200 week MA | $178.1 | 30% above |
PNC's trend is mixed: it's above four of its five weekly moving averages, and 30% above its 200-week average.
PNC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $160.8 | $146.2 | -9.1% |
| 2021 | $146.2 | $197.9 | +35% |
| 2022 | $197.9 | $155.0 | -22% |
| 2023 | $155.0 | $154.9 | -0.1% |
| 2024 | $154.9 | $193.3 | +25% |
| 2025 | $193.3 | $213.9 | +11% |
| 2026 YTD | $213.9 | $231.0 | +8% |
PNC has finished lower in three of the last six years. It's up 8% so far in 2026.